DISTRICT CODE: 280503 STATE AID 2006-07 DISTRICT NAME: LOCUST VALLEY DATE: JULY 3, 2008 EDITION NO. 1460 DISTRICT LAST UPDATED ON 07/02/08 NOTE: DATA DISPLAYED ARE PROJECTED EXPENSES FOR 07-08 AID BUILDING AID OUTPUT REPORT (BLD4-EST) PAGE 1 PART I: AIDABLE BUILDING AID EXPENSES FOR 2007-08 AID ______________________________________________________ A. CAPITAL OUTLAY EXPENSES 1. CAPITAL OUTLAY EXCEPTION EXPENSES (PROJECT < 100001, EMERGENCY, SMALL CITY) 0 B. AIDABLE DEBT SERVICE EXPENSE FOR 2007-08 AID 2. 2007-08 ASSUMED DEBT SERVICE: PROSPECTIVE* 0 3. 2007-08 ASSUMED DEBT SERVICE: PROSPECTIVE, REORG INCENTIVE ELIGIBLE 0 *PURSUANT TO CHAPTER 383 OF THE LAWS OF 2001, ASSUMED DEBT SERVICE FOR PROJECTS APPROVED ON OR AFTER 12/1/01, OR WITH OBLIGATIONS FIRST ISSUED ON OR AFTER 12/1/01. BUILDING 4 EXPENSES ARE FOR BUILDING PROJECTS APPROVED ON OR AFTER 7/1/2005. PLEASE NOTE THAT THE 2007-08 ASSUMED DEBT SERVICE PROSPECTIVE AMOUNTS INCLUDE PROJECTS APPROVED PRIOR TO JANUARY 1, 2007 WITHOUT NOTIFICATION OF SIGNED CONSTRUCTION CONTRACTS TO SED. THIS ALLOWS THE 2007-08 BUILDING AID PROJECTIONS TO INCLUDE ALL THE PROJECTS THAT MIGHT POTENTIALLY GENERATE 2007-08 DEBT SERVICE PAYMENTS. THE INITIAL DEBT SERVICE PAYMENT FOR THESE PROJECTS WITHOUT SIGNED CONTRACTS WAS ASSUMED TO OCCUR 18 MONTHS AFTER THE COMMISSIONER'S APPROVAL DATE. THEREFORE, THE CURRENT PROJECTION METHOD ASSUMES THAT THE CONTRACTS FOR ALL PROJECTS DESCRIBED ABOVE HAVE ALREADY BEEN SIGNED OR WILL BE SIGNED BY JUNE 30, 2008. HOWEVER, PER THE ENACTED 2007-08 STATE BUDGET, ONLY PROSPECTIVE BUILDING PROJECTS FOR WHICH SED NOTIFICATION OF SIGNED CONTRACTS WAS ON FILE BY THE NOVEMBER 2006 DATABASE WILL BE ELIGIBLE FOR AN INITIAL AID PAYMENT IN THE 2007-08 AID YEAR. 4. 2006-07 ASSUMED DEBT SERVICE: PROSPECTIVE EXPENSE FOR THE INITIAL 2007-08 AID PAYMENT IN JULY 2007** 0 5. 2006-07 ASSUMED DEBT SERVICE: PROSPECTIVE EXPENSE FOR THE INITIAL 2007-08 AID PAYMENT IN JULY 2007, REORG INCENTIVE ELIGIBLE 0 6. NOT USED 7. NOT USED **PURSUANT TO CHAPTER 58 OF THE LAWS OF 2006 REGARDING THE 2006-07 ASSUMED DEBT SERVICE: PROSPECTIVE EXPENSES FOR THE INITIAL 2007-08 AID PAYMENT IN JULY 2007 ARE EXPENSES FOR BUILDING PROJECTS WITH COMMISSIONER APPROVAL BY 12/31/05 AND NOTIFICATION OF A SIGNED CONSTRUCTION CONTRACT AWARD ON FILE WITH THE DEPARTMENT AFTER 2/15/06. HOWEVER, PER THE ENACTED 2007-08 STATE BUDGET, ONLY PROSPECTIVE BUILDING PROJECTS FOR WHICH SED NOTIFICATION OF SIGNED CONTRACTS WAS ON FILE BY THE NOVEMBER 2006 DATABASE WILL BE ELIGIBLE FOR AN INITIAL AID PAYMENT IN THE 2007-08 AID YEAR. PROJECTS ELIGIBLE FOR THE DEFERRED PAYMENT WITH SIGNED CONTRACTS ON FILE BY THE NOVEMBER 2006 DATABASE WILL RECEIVE A PAYMENT IN JULY 2007. C. LOW WEALTH SCHOOL DISTRICTS 8. 2007-08 EXPENSE FOR LOW WEALTH AID ELIGIBLE BUILDING PROJECTS*** 0 ***BUILDING 4 EXPENSES ELIGIBLE FOR LOW WEALTH AID ARE FOR BUILDING PROJECTS APPROVED ON OR AFTER 7/1/2005. PROJECTS APPROVED BY THE VOTERS BETWEEN JULY 1, 2005 AND JUNE 30, 2007 ARE ELIGIBLE FOR THE LOW WEALTH AID RATIO IF THE DISTRICT'S PUPIL WEALTH RATIO WAS GREATER THAN 2.5 IN 2000-01 AND THE ALTERNATE PUPIL WEALTH RATIO WAS LESS THAN .85 IN 2000-01. D. LEASE EXPENSE NOTE: LEASES APPROVED ON OR AFTER 7/1/98 ARE ONLY ELIGIBLE FOR THE 10% INCENTIVE IF THEY ARE FOR A TERM OF MORE THAN 5 YEARS. 9. 2007-08 LEASE EXPENSE - NOT 10% ELIGIBLE 0 10. 2007-08 LEASE EXPENSE - 10% ELIGIBLE 0 11. 2007-08 LEASE EXPENSE, REORG INCENTIVE ELIGIBLE NOT 10% ELIGIBLE 0 12. 2007-08 LEASE EXPENSE, REORG INCENTIVE ELIGIBLE 10% ELIGIBLE 0

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